PLD
Prologis Inc.
Is PLD Halal?
Industrial REIT — conventional debt structure fails Sharia screening.
What You Should Know
Prologis's March 31, 2026 10-Q reports $98,133.451 million of assets and $34,669.592 million of interest-bearing debt, or approximately 35.33% debt/assets. That exceeds the examined FTSE Yasaar, MSCI total-assets and Malaysia SAC debt limits; the selected filing does not separately classify receivables, so that limitation is disclosed rather than guessed.
⚠️ Concerns
- •Approximately 35.33% conventional debt/assets
- •Tenant and sublease look-through
- •Receivables classification limitation
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
34,669.592 / 98,133.451
861.144 / 98,133.451
861.144 / 98,133.451
- Financial
- Fails
- Overall
- Fails
Debt/assets is approximately 35.33%, above the 33.333% threshold; the receivables classification limitation does not rescue the failed debt test.
- Financial
- Fails
- Overall
- Fails
Debt/assets is approximately 35.33%, above the 33.33% threshold; this is an analytical calculation, not an official index classification.
- Financial
- Fails
- Overall
- Fails
Debt/assets is approximately 35.33%, above the examined 33% threshold; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
Market-cap methods are not calculated; the failed asset-based debt screen independently prevents a pass.
Business-activity disclosure
Prologis is a logistics real estate REIT. Warehousing and distribution property is not resolved by the financial ratios alone because tenant activities, lease-income look-through and financing structure require separate review.
Limitation: The filing does not provide a universal, school-independent prohibited-revenue numerator for tenant activities, and receivables are not separately classified in the selected filing data.
Purification
No stand-alone interest-income numerator was identified in the selected filing data, and tenant-income purification requires a defined scholar-approved look-through method.
Inputs, assumptions and primary sources
- Amounts are USD millions from Prologis's March 31, 2026 Form 10-Q.
- Interest-bearing debt is 34,669.592 and total assets are 98,133.451; the resulting debt/assets ratio is approximately 35.33%.
- Cash is 861.144 and total revenue is 2,297.723.
- The selected filing data presents receivables within broader other-assets disclosures rather than as a separately classified current line; accountsReceivable is therefore set to 0 as a schema-safe limitation, not an assertion that no receivables exist.
- The selected filing data did not provide a stand-alone interest-income line suitable for a disclosed numerator, so non-compliant income is unavailable rather than estimated.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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